oil speculation

Since April President Obama Cut Oil Prices 21%, Boosted GDP $78.4 Billion

In April, I predicted that President Obama’s $52 million plan to increase the margin requirements and otherwise tighten the screws on oil speculators — who borrow huge sums to bet on the direction of oil without taking delivery — would cut oil prices by 10%. He’s beaten that prediction and the lowered prices of gasoline has added $78.4 billion to its consumers’ spending power.

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Oil Prices Fall But Airlines Not Benefiting

Falling oil prices are typically good news for airlines as fuel accounts for more than a third of their operating costs, but not all carriers are benefiting due to fuel hedging.

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Which Would You Rather Have - Low Gas Prices or Better Economy? Because You Can't Have Both

Sat, 06/02/2012 - 3:48pm — Sin-Mao Yang

As expected, when the economy took a hit like yesterday when job growth was anemic and unemployment went up slightly, oil prices went down. It has nothing to do with supply and demand.

Another Election Year, Another Attempt to End Oil Speculation

Tue, 04/17/2012 - 5:23pm — Sin-Mao Yang

It might have started a couple months earlier, but this is eerily similar to the summer of 2008 when gas prices were at record highs, which is around $4 per gallon. Back then, congress proposed a bill to regulate oil speculation, but nothing came of it. It was shelved when people fought back by driving less and using alternative methods of transportation, lowering gas prices to the point where it no longer became an issue.

Obama to pitch $52M plan to regulate oil markets

President Obama on Tuesday urged Congress to help strengthen federal supervision of international oil markets, amid pressure from U.S. voters to take action on rising gasoline prices. The president wants Congress to increase penalties for market manipulation and empower regulators to increase the amount of money energy traders are required to put behind their transactions.

House Democrats urge limits on oil speculators

Congress should take steps to limit speculation in oil markets, which has boosted prices as much as 30 percent, a new report from the Democratic staff of a House of Representatives oversight committee said on Monday.

ExxonMobil CEO Says Oil Price Should Be $60 To $70 A Barrel

Rex Tillerson, the boss of ExxonMobil admitted last week that the price of oil–based purely on supply and demand- should be in the $60 to $70 a barrel range. The reason it’s above $100 a barrel, Tillerson explained, is due to the oil majors using futures contracts to lock in current high prices, and speculation that is engineered by the high-frequency trading of quantitative hedge funds.

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Don't blame 'speculators' for higher oil prices

So now President Barack Obama has decided to go after the oil speculators. He wants to “root out any cases of fraud or manipulation.” He’s directed the Justice Department to set up a task force. Yessir, he’s determined to get to the bottom of this.

Wall Street Speculators Driving Up Oil Prices

Oil consumption has fallen, demand from U.S. motorists for gasoline is flat at best and refiners that turn crude into fuel are operating well below capacity. Yet oil prices keep marching toward $90 a barrel, pushing gasoline toward $3 a gallon in many markets, and prompting American drivers to ask, "What gives?"

Blame it on the same folks who brought you $140 oil and $4 gasoline in 2008: Wall Street speculators.

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